Retirement and Estate Planning

Retirement planning is the
accumulation of wealth to provide
income and financial security
in retirement. Estate planning
focuses on wealth preservation
and wealth transfer.

How can we help?

With a dedicated technical
research team Morgans' advisers
are kept up to date with legislation
changes.

If you are planning your
retirement, just reducing your
working hours, or thinking about
an estate plan, we can help.

Retirement planning

Good retirement planning is
both tax efficient and investment
effective. It's never too early to start planning for retirement. It is important to ensure your retirement income is structured to suit your needs and objectives.

We can help you to structure your
retirement income stream to best
meet your financial needs.

Estate planning

Estate planning aims to preserve
your family’s wealth by distributing
it to nominated beneficiaries
in the most effective way.

It
requires a consideration of each
beneficiary’s personal and financial
circumstances to determine
the best means of providing
an inheritance without unfairly
affecting the beneficiary’s
existing situation.

The first step is ensuring you
have a current and valid will.
In addition to a will, you should
also think about:

Powers of Attorney

Medical directives

Testamentary trusts

Business succession planning

Nomination of superannuation
death benefits

Superannuation does not come
under the direction of your will.
Without sufficient planning, the
trustee of your superannuation
fund has discretion as to the
treatment of any death benefits
from your super.

A binding death
nomination can ensure your
wishes are fulfilled in the
payment of benefits to your
preferred beneficiaries.

Implications for SMSFs

With respect to self managed
superannuation funds, trustees
and members effectively have
ultimate control in the distribution
of death benefits within your
fund.

It is important you prepare
a strategy for the payment of
benefits to members' chosen
beneficiaries and incorporate the
facilities to implement this strategy
in your trust deed. It will also be
necessary to make preparations
for the wind-up of the fund in the
event of the deaths of all trustees
and members.

Find out more

If you are planning your retirement, just reducing your working hours, or thinking about an estate plan, we can help. Contact a Morgans Sydney Currency House adviser to discuss your needs.